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Industry representatives are getting ready to arrive in Panama

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Industry specialists will be able to attend the Ibero-American Gaming Summit again in 2023 after a two-year hiatus due to the Covid-19 pandemic. The program for the seventh edition, which will occur on May 16 and 17 in Panama, is now accessible.

Under the theme “A Future of Opportunities”, the summit aims to gather major regulators and players in the Latin American gaming sector to enhance regulatory mechanisms and information exchange between regulators and companies. According to a statement from the organizers, gaming regulatory representatives from Paraguay, Portugal, Puerto Rico, Peru, Bolivia, El Salvador, Ecuador, Chile, Mendoza, and Buenos Aires in Argentina have expressed their interest in attending the event.

Additionally, the organizers have announced that CIBELAE and PROMTUR (Panama’s Tourism Office) will collaborate, and gaming associations from the region will also participate. As host, the government of Panama, represented by the Panama Gaming Control Board of the Ministry of Economy and Finance, will serve as the institutional ambassador of the meeting.

“The summit is the only event that brings together Ibero-American regulators to strengthen ties between government and business, making it an essential meeting for industry actors,” the statement concluded.

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The program includes the following activities and discussion tables:

  • A welcome address by Manuel Sánchez Ortega, Executive Director of the Panama Gaming Control Board.
  • A session on the global gaming market.
  • Discussions on the impact of Covid-19 and its future implications.
  • A session on taxation in the industry.
  • A conversation about the challenges of an innovative and competitive sector.
  • An overview of online gambling regulations in different countries.
  • A session on the perspective of lotteries in Latin America.
  • A discussion on the social impact of the gaming sector.
  • The signing of a memorandum of understanding among participating countries and the presentation of regulators’ conclusions.

The Ibero-American Gaming Summit is an annual event that gathers industry specialists and regulators from Latin America and Spain to discuss the latest developments in the gaming sector, including online gambling, lotteries, and casino operations. The summit focuses on strengthening ties between government and business, improving regulatory mechanisms, and sharing information among industry players. The event features discussion panels, keynote speeches, and networking opportunities. The Ibero-American Gaming Summit has taken place twice in Madrid, once in Mexico, twice in Colombia, and once in Peru, which was among the last Latin American countries to regulate online gambling.

Jerome, a valuable addition to the Gamingo.News team, brings with him extensive journalistic experience in the iGaming sector. His interest in the industry was sparked during his college years when he participated in local poker tournaments, eventually leading to his exposure to the burgeoning world of online poker and casino rooms. Jerome now utilizes his accumulated knowledge to fuel his passion for journalism, providing the team with the latest online scoops.

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Business

FDJ’s Acquisition of Kindred Group Shaping the Future of Global Gaming

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FDJ’s acquisition of Kindred Group, facilitated by regulatory approval and strategic shareholder engagement, signifies a transformative moment in the gaming industry. This deal exemplifies the intricate balance between regulatory compliance, shareholder value, and strategic growth ambitions. As the industry stands at the cusp of further consolidation and innovation, the FDJ-Kindred transaction heralds a new era of strategic realignment and competitive positioning in the global gaming landscape.


A Monumental Shift in Gaming Dynamics

The Swedish Financial Market Supervisory Authority (SFSA)‘s approval of Française des Jeux’s (FDJ) offer to acquire Kindred Group marks a pivotal moment in the global gaming and betting sector. This green light not only accelerates FDJ’s strategic expansion but also underscores the evolving landscape of international gaming regulations and corporate alignments.

Navigating Regulatory Waters

The SFSA’s endorsement is a crucial step in FDJ’s ambitious acquisition plan, setting the stage for a public offer slated to commence imminently. This regulatory approval highlights the meticulous scrutiny and compliance standards governing mergers and acquisitions within the sector, ensuring that such transactions align with market stability and shareholder interests.

A Call to Action for Kindred Shareholders

The forthcoming Extraordinary General Meeting (EGM) represents a critical juncture for Kindred Group, with proposed statutory amendments necessary for facilitating the acquisition. This meeting, aimed at achieving the requisite shareholder consensus, signals the importance of shareholder engagement in steering corporate direction and strategy.

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The Path to Acquisition: Shareholder Conviction and Strategic Vision

FDJ’s pursuit of Kindred Group, contingent upon securing 90% of total capital, reflects a strategic maneuver to consolidate its position in the global gaming market. The offer per share, valuing Kindred at approximately €2.6 billion, has garnered unanimous board endorsement and significant shareholder backing, illustrating the alignment of strategic interests and the perceived value of this consolidation.

Activist Influence and Strategic Realignment

The role of activist shareholders, notably Corvex Management, in advocating for Kindred’s sale underscores the dynamic interplay between corporate governance and shareholder activism. Their successful campaign for board representation and strategic evaluation reflects a broader trend of active investor engagement in shaping corporate trajectories.

Implications for the Global Gaming Industry

This acquisition not only exemplifies the financial and strategic considerations underpinning such deals but also highlights the regulatory complexities and shareholder dynamics involved. As the gaming industry continues to evolve, driven by technological advancements and regulatory changes, the FDJ-Kindred merger serves as a case study in strategic growth, market consolidation, and the pursuit of competitive advantage.

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